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FPSO - Floating Production Storage and Offloading

Developing FPSO Business In China: A System Integrator’s Perspective

Posted: 08/11/2011

Speaking at Oil & Gas IQ's inaugural Excellence in FPSO Design, Construction & Operations in China event in Tianjin, China, Jerry Joynson Corporate Director of Concept Development at SBM Malaysia delivers his presentation on the potential and advantages of FPSO investment in the People's Republic of China.

The South China Sea is one of the most fertile grounds of FPSO activity in Asia, with six units actively operational in the area under the aegis of companies like Petronas, CNOOC, Nippon Oil and Petrovietnam.

In 2010, China surpassed the USA as the world's biggest energy user, consuming more than 2.2 BBOe per annum. With a voracious and growing appetite for oil and little subsea infrastructure for hydrocarbon transplantation, there is no doubt that the number of FPSOs will rise dramatically in the coming decades.

In Jerry's presentation he expounds on:

  • · Oil companies making the step from small regional to global lease FPSO contractor
  • · FPSO project execution in current market conditions
  • · The benefits and opportunities of working in the Chinese FPSO arena
  • · The risk of price escalation due to oil field practices
  • · Understanding how shipyards have developed to support the oil industry and FPSO construction and conversion
  • · Understanding the local content driven approach to FPSO production
  • · Challenges and risks of working in China including relationship building, quality, skills and training, repeatability, timeframes etc.

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